Amit, I have received your payment. Thanks a lot! Let us know when the second tournament is starting. I will be better equipped this time! The last two matches I played while waiting for my cab to go home after the office. I was Very Exhausted after 9 hours shift and couldn't concentrate properly! This time, my strategies will be different!

We have seen a lot of funny claims of many people around the world about themselves being the creator of bitcoin. But I personally don't want him to come to the limelight. I believe the creator of bitcoin deserves a happy and peaceful life. If Satoshi Nakamoto comes out in limelight, a majority of the enforcement agencies will try to capture him and put him behind the bars for his innovation.  I don't think he/they deserves that.

The world is full of mysteries and one addition to that will not do any harm. But the revelation of the true identity will make a lot of harm to him as well as to the entire crypto community.

Free and borderless economy is the future and such legal restrictions are not helpful to an economy. Sports betting is a billion dollar industry so you can imagine the kind of tax revenue US government can earn from it. I believe the US government is eying that revenue only especially when it has gotten into a import export duty war with another big economy like China and constantly on war with middle east. I welcome this step taken by the US supreme court as it will bring more competition in this industry and help it become organized while making the end users benefitted.

That's just one part of the story and not the complete one. I understand and agree that gambling addiction is not good and a lot of people have lost money for their gambling addiction. However, there are people who have won big in gambling and secured their future. Even though they are less in numbers, but  they exists. If you are continuously loosing money in gambling, you must leave the game and never come back because not everyone is considered as winner. People loose money and majority of the gamblers understand the risk of gambling. Why blaming the entire industry for that?

Here is the latest development on the case:

Indian Supreme Court denied to issue interim injunction to RBI on the decision of crypto ban. The next hearing date is tomorrow, 17 May 2018.

News source: https://bcfocus.com/news/supreme-court-of-india-favors-rbi-restrictions-on-cryptocurrency-by-denying-interim-injunction/9039/

I encourage everyone to follow the twitter handle of Crypto Kanoon to get all latest development news on this case. They are a group of lawyers who have been engaged by the petitioners to handle this case.

Twitter profile: https://twitter.com/cryptokanoon

I will keep checking on the progresses made in this case and keep the thread updated!

Manipulation was always a part of mainstream stock market even after heavy regulation by the watchdogs. So it is no surprise that manipulation will take place in crypto market as well where there is no regulator of the market. So big tank sharks with deep pockets, will use the market on their favor, that's an open secret. However, I am failed to understand one thing. I will appreciate if any knowledgeable person can help me understand this.

Lets assume I have 10,000 of bitcoins with me and I am considered a shark or whale whatever you like to call it. Why would I manipulate the market to go down? What's profit I can get out of it? If I have a high exposure in bitcoin, I would always want the market to go up because my net worth will be increasing along with that. The price decrease will not be helping me in any way. That's the basic understanding I have. Can anyone please clarify?

It's both fantastic and probably unavoidable reality! Blockchain is not only about bitcoin. This is bitcoin is just one use case for blockchain and its power didn't end here. Corporates and governments have begun to understand the possibility in it.

Tech giants like facebook has appointed their head of messenger to a new role for exploring blockchain technology to be used within facebook. JPM bank has already applied for a blockchain related patent. A country like India where 41% of the parliamentary members are uneducated, have also tweeted that they are exploring the possible benefits of blockchain.

Blockchain is truly a technology of the future. Slowly but surely we will see it implemented in almost every areas of our daily life.

Both are entirely different thing. Traditional gambling is far more diverse than online gambling option. Also traditional gambling is a measure of social status and you will hardly find people from lower income group inside a casino. Whereas online gambling has made gambling more accessible to all segment of the society where people can come and play with lower stakes and without any prejudice about their competitors.

Also the next thing difference is the availability. Casinos are not present everywhere. If I want to visit a casino, I will have to go to a different state of my country. Also I will need to have a certain amount in my bankroll which is way huge for a middle class person like me. So here online gambling comes handy by providing convenience to the gamblers.

Bill gates is an awesome personality but that doesn't mean what he thinks will be true everytime. I remember, his old friend Mr. Buffet was also present in that show who is a known hater of bitcoin. So I believe it's just peer pressure. 

But seriously, market has learnt to ignore such comments from conventional old timers. They have lived their life and now it's our time to live ours. Why bother listening to them? Even the crypto market doesn't show any impact to such comments anymore. Simply ignore!

Firstly lets call it "USA Basic Income scheme" instead of calling it Universal, because that's what it is. Secondly, the scheme looks good in theory but hard as hell to implement. It seems like the government has to take up a job like Robinhood. get money from the riches and distribute it to the poor segment of the society. This is not a sustainable model at all. If the government wants to provide basic income to the poors, they should look at two very important factors,

1. Providing basic free education till graduation and provide subsidy after that for higher education.
2. Look at the health of the production and heavy engineering industry and facilitate for more such industries.

These are the only ways to ensure a basic income to every household of the country. Government need to empower people instead of distributing free fund to make it sustainable in long run. Providing free fund to every household will certainly boost the retail market for a while because some people will have higher purchasing power, but it will be stagnant soon after the initial boost. The growth will be capped upto that limit.

However, empowering people and the future generation by providing free education will have a very significant impact on the economy along with facilitation to open up new production industry. People will be more equipped with knowledge and the production industries will be there to provide them with jobs, which will in turn ensure a certain level of income to them. This is how a sustainable economic model can be built. Taking funds from the riches and re-distributing them to the poors will have a very limited effect and not sustainable. 

I don't think any altcoin is a threat to bitcoin. If it happens to be a threat, by now we would have seen an impact especially when market is over burdened with thousands of altcoins. Same goes with national crypto currency as well because a national crypto currency will have boundary limitation and it will be strictly centralized. So the users of bitcoin will continue to use it without even giving a second thought. Probably some percentage of their portfolio will go to their respective national crypto but bitcoin will remain as the king of all time. I don't see any competition between these two.

Mr. Morgan Rockwell was the CEO of bitcoin academy. It's just another business built around the crypto curreny. He was also a president of Defend BTC which is a company that provides legal services to the crypto businesses. I see no direct relation of him with the bitcoin here. He was just another person with a crypto related business. I don't see any impact of this news in the bitcoin market.

US is playing double standard game and majority of the crypto users are aware of it. Also bitcoin doesn't depends on a single person. So I am pretty sure that this is NOT the real end of bitcoin. It can't be!

Please count me in!

BitcoinTalk Username: Avikz
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Thanks for your excellent reply! Even you have mentioned that nothing is wrong with gambling if you are playing responsibly. But that entirely depends on an individual. Let me give you one scenario and ask you what would you do in that scenario.

The scenario:
Assume you don't have any bitcoin in your cold storage and suddenly win 23 bitcoins ($8700/btc) as a jackpot from a gambling website. What would you do with that money?

What I will do:
1. My mortgage value is close to 8 bitcoins. I will first pay off my mortgage and become debt free.
2. I still have 15 bitcoin with me. I will deposit that money into a bank in "Monthly income scheme" plan which will earn me a monthly income of 70k in my local currency. This income is more than enough for a married couple with a child in my country. I will be able to save from this earning.

So if you see that, I will try to secure the rest of my life with that winning. It is because I understand my responsibility and I am not a high risk taker. But there are a class of people who don't know where to stop exactly. That's when the problem starts which earned gambling a bad name. Addiction in any form is not good and we all should know when and where to stop. But do we really need to blame entire gambling industry for our own mistakes? I don't think so!

I don't think so! Definitely it is not decentralized but with goverment association makes it less volatile and an excellent store of value. If i am allowed, I would rather invest in petro instead of investing in any originless ICOs because I know it comes with governmental security. That provides investors peace of mind over the fluctuations of crypto market. Especially when ICO market is filled with scammers.

Yes, that's another way how government can try to achieve their ban on cryptocurrency. This is how India is planning to implement a complete ban. The central bank has ordered all banks and any regulated financial entities to wind up their positions from crypto market. That includes winding up from providing services to any crypto exchanges. But that's for regulated b2p or b2b entities which government can control. But what they can't control is the p2p exchanges like localbitcoins or paxful. These are not very easy to track if a person keeps the transaction volume within a certain low limit. Huge volume transfers are easy to track, but for low and minimal volume, it is not very easy to track. I believe news ways to exchange will be evolved as per the market dynamics when a government will try to forcefully impose a ban.

This is rubbish and complete FUD. Facebook has no plan to launch cryptocurrency. There is no announcement and many news article website is creating clickbait articles and spreading the FUD. The reality is something different. The head of facebook messenger Mr. David Marcus has been moved to a different role to explore blockchain technology to be used within facebook to ensure data integrity and security. There has been no plan at all to launch facebook's own crypto currency. Stop this FUD and it is not helping the market. 

What aspects you are referring to? Will you please elaborate? Don't just go away by saying "illegal in some aspects", instead let us know those aspects. There are many countries in the world where gambling is legal. What you are talking is the general conception of many in this world because they have never tried it. If you are referring to addiction, then it is not good to have addiction in anything in life. Gambling alone can't be blamed for that. Please elaborate your aspects here.

Probably few governments would try to completely shut it down, but the question is, would they be able to do it? I believe no! Complete blockage can't be achieved by any means. Yes, if the government starts ruling like North Korea, that every crypto users will be facing firing squad, then probably it will be achieved through fear. But technically it is not possible. There are ways to bypass government security protocol. People will start using those if a government tries to block the crypto currency by force.

You have raised a very interesting topic here. The answer is no for bitcoin or for any other similar currency. I am not considering centralized currencies like smart contract tokens or Tether. If we consider currencies like bitcoin and litecoin, trying to get control over it will remain as a big joke for the government watchdogs because it is not possible technically due to the pseudo anonymous nature of blockchain. Without any central location to track, the governments will end up chasing a non existent oasis in the dessert.

However, if you maintain an account with an online wallet provider, then there is a chance of being caught if the company agrees to hand over the user's data to a particular government.

The government can even try to restrict access to the internet within their boundaries the way India tried to ban porn sites. But using tor or vpn, this restriction can be easily bypassed. So it is indeed beyond control of the governments and that's the only bottleneck we are facing towards the adoption.